The news that petrol, super unleaded and diesel prices have begun to fall has come as welcome news to motorists in the city.
Prices have been steadily dropping in recent weeks but still nowhere near in line with large reductions in line with wholesale costs.
In December, the Competition and Markets Authority found that the average wholesale price of petrol had fallen by 21p- from 130p a litre to 109p per litre, yet pump prices only fell by around 8p.
Industry expert Paul Holland, MD of UK Fleet at Allstar told the Express: “With an elimination of Russian oil and increasing demand across the globe, the genuine concern over availability and supply of oil has now been replaced by a realisation that the globe is simply not going to need as much oil in the short and medium term.
“Right now, we’re seeing the market agreeing with this assertion that supply is going to outstrip demand
“The impact is that oil prices are now around 60 percent of what they were in June of this year.
“While retail pump prices are yet to see the full benefit of this commodity cost fall, this will almost certainly come over the next few weeks and as we move into the new year.”
Below is a list of the nine cheapest places to fill up with petrol in Peterborough. All prices are according to petrolprices.com and correct as of January 4.
